New white lenses?
There has been some talk in the last little while about these two lenses possibly being replaced sooner than later. From personal experience, I know that Canon has discontinued the lens hood for the EF 800 f/5.6L IS, this hood also worked with the 400 f/2.8L IS. Another lens that has become quite hard to get is the EF 200 f/2L IS. I have talked to Canon Canada and they’ve been out of stock for a while with no ETA. That’s not always a perfect way to measure replacement of a lens, but with the more expensive ones, it usually is (I’d say 90%).

We’ve been told both lenses would be replaced after the EF 200-400 f/4L IS 1.4x is officially announced and production has started.

I'm kind of surprised to hear about the 200 f/2L IS being up for replacement already. The current model is already considered to be pretty close to optically perfect and has an effective IS system. I also doubt that it is a high volume lens at its current price, and Canon seems incapable of designing replacements that are even close to the price of current models.

This seems like a bit of a head scratcher to me, although I wouldn't be sad to see some MK I's at reduced prices on the used market.

I'm kind of surprised to hear about the 200 f/2L IS being up for replacement already. The current model is already considered to be pretty close to optically perfect and has an effective IS system. I also doubt that it is a high volume lens at its current price, and Canon seems incapable of designing replacements that are even close to the price of current models.

This seems like a bit of a head scratcher to me, although I wouldn't be sad to see some MK I's at reduced prices on the used market.

I'm kind of surprised to hear about the 200 f/2L IS being up for replacement already. The current model is already considered to be pretty close to optically perfect and has an effective IS system. I also doubt that it is a high volume lens at its current price, and Canon seems incapable of designing replacements that are even close to the price of current models.

This seems like a bit of a head scratcher to me, although I wouldn't be sad to see some MK I's at reduced prices on the used market.

The newer hood design needs a different front to each lens. The newer lenses don't have a protection element, which the mkI lenses do. The newer ones are a complete redesign, mechanically and optically. The newer ones are a LOT lighter, the new 400 f2.8 is hanholdable and the new 500L is amazingly light in weight. The newer lenses are better in every regard, sharper, less vignetting, better TC results, better IS and faster AF. There are newer coatings (SWF or what ever Canon now call it), Flourite coatings to reduce dust attraction and make them less flare prone.

Sure the new ones are expensive, but they are slowly coming down in price. If you couldn't afford a white tele before the mkII's the increase in price isn't going to make any difference. There's plenty of great condition S/H copies of the mkI lenses available.

All Canon lenses are rediculously over priced in their first year...but there's plenty of muppets who want to pay this premium to brag the newest toys. Wait a few years, let the initial batch issues get ironed out and then snag a bargain. Just remember that well looked after Canon lenses are usually worth more over time. Most of my lenses from 6 years back, which I bought new are now worth more S/H than what I originally paid for them. The same is true with the big whites. If you buy a mkI 500L S/H...it will never loose you money and probably go up in value over time. Where as the resale value of DSLR camera bodies drop like a lead ballon over time.

I own the 200 f/2 and have for some time now. It is my main lens that I use as it is just hard to find anything that works better (for me). As for a replacement, I can see where they would significantly reduce the weight and improve the IS by a few stops. Those two things alone would make it a great purchase but the MK1 will still be a great lens as well. I don't think a newer version would reduce the value of the MK1 so don't expect to see mine up for sale at 1/2 price.

+1, only possible way is to lower its weight, but a 200/2 will never be light for a 200mm lens.

A lot of people thought the previous crop of 300, 400, 500, and 600mm lenses couldn't be made better. In every respect, including and in particular IQ, all of those Mark II lenses ARE better than their predecessors. Sometimes by a significant degree. For example, the new EF 600mm f/4 L IS II is sharper than the EF 800mm f/5.6 L IS, even when a 1.4x TC is used, according to a review by Art Moriss, a world-renown bird photographer who puts his gear through the greatest of tests every time he uses them. In another article, Art also notes that he will be moving from the 800mm to the 600mm thanks to the fact that it is overall, in pretty much every way, a better lens (closer MFD, better sharpness, lighter weight, etc. etc.) If you read through his blog, he has quite a few good things to say about the new generation of telephoto lenses from Canon.

I see no reason the 200mm f/2 and the 800mm f/5.6 couldn't be updated to be just as superior to the current versions as the new generation of recently released Mark II lenses are to their predecessors. Lighter, better IS, faster AF, significantly improved center to corner sharpness, etc.